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Mike has $22 in his bank account and deposit $11.50 each week at the same time Tim has $218 in his account but is withdrawing $13 each week. When will the account have the same balance ?how much money will each of them have after 12 weeks ?

Answer :

notsowise
At twelve weeks Tim will have $62
Mike will have $160

The balance will be the same at $114 at eight weeks

Answer:

After 8 weeks they will have same account balance and after 12 weeks Mike's account balance will be $160 and Tim's account balance will be $62.

Step-by-step explanation:

Let t be the no. of weeks .

Mike has $22 in his bank account

He deposit $11.50 each week

He deposits in t weeks = 11.50t

So, total amount in Mike's account after t weeks = 22+11.50t

Tim has $218 in his account

He is withdrawing $13 each week.

He is withdrawing in t weeks. = 13t

So, total amount in Tim's account after t weeks = 218-13t

Now to find When will the account have the same balance :

22+11.50t=218-13t

13t+11.50t=218-22

24.5t=196

[tex]t=\frac{196}{24.5}[/tex]

[tex]t=8[/tex]

So, after 8 weeks they will have same account balance .

Now Their account balances after 12 weeks:

Mike's account after 12 weeks = 22+11.50(12)=$160

Tim's account after 12 weeks = 218-13(12)=$62

Hence after 8 weeks they will have same account balance and after 12 weeks Mike's account balance will be $160 and Tim's account balance will be $62.

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